State Minister Emphasises Importance of Multilateral Partners

State Minister in the Ministry of Finance and the Public Service, Hon. Fayval Williams, says the country’s economic achievements were not possible without the support of the multilateral partners, such as the Inter-American Development Bank (IDB).

Addressing the IDB’s sixth annual meeting of Governors of Central Banks in the Caribbean in Washington, DC, on February 22, the State Minister pointed out that the Bank has partnered with Jamaica to implement a number of important projects, including tourism and port development.

And, during bilateral talks between Mrs. Williams and President of the IDB, Luis Alberto Moreno, she urged the IDB to take another look at Jamaica’s agricultural sector, with a view to enabling small and medium enterprises (SMEs) to gain access to affordable financing.

The State Minister, who represented Jamaica at the meeting, emphasised that this is critical to the growth and expansion of the agricultural sector.

Among the topics discussed were de-risking and correspondent banking, the development outlook for the Caribbean, and the role of the private sector in the development of the region’s economy.

The three-day meeting ends today (February 23), when finance ministers and governors of the central banks of the Caribbean attend the 45th meeting of the Committee of the Board of Governors of the IDB.

Mrs. Williams is accompanied by Jamaica’s representative to the IDB, Mr. Arthur Williams.